The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1887-11-12
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money received by him during The
month. 1t shall also be the duty
of the Secretary and Treasurer tc
disburse funds only upon the writ
ten order of the President, after au
ithority shall have been given by
the Board of Directors; to have
charge of the promissery notes and
other evidences of Indebtedness be-
longing to the Association, and to
keep the same in some fire proof
vault or safe in the city Of Caldwell
He shall make report of the mon
ey received and paid out, with the
balance on hand, each month to the
Board of Directors, and to the stock
holders at their annual meeting.
Shall give such bond for the faith
full discharge of his duties as the
Board Of Directors may require.
SEC. 4. 1t shall be the duty of
i. the attorney to examine the title to
all property offered to the Associa-
ton as security for loans or ether
wise, and report on the same to the
Board of Directors; to prepare all
:. contracts, deeds, bonds, deeds of
trust and other writings to be taken
. or given by the Association, to see
that all buildings erected for the
Association or to be prepared by it,
are free from the operation of
liens Of every kind; and to con-
duct all suits in behalf of the
Association and defend it in all
suits that may be brought against
it. He shall receive such fees for
his services as may be determined
by the Board of Directors.
SEC. 5. The Board of Directors
shall hold stated meetings at least
once in each month, which shall be
on the Sd Tuesday thereof, for the
purpose of attending to the safe in
vestment of the funds of the Asso-
citation and the general manage
ment of its affairs, and to decide
any disputes arising among the
members respecting the construc-
ton of any part of these Bylaws;
the record of their proceedings shall
at all times be open to the inspec-
ton of stockholders. A majority
of the Board of Directors shall
constitute quorum.
Sec. 6. Any Director who shall
be absent from the meetings of the
Board for three consecutive months,
or who shall fail to pay the month
ly installment on his stock for the
same period, may be declared dis
qualified from acting az Director. |
ARTICLE VI.
.SECTIeN l. At each annual
meeting of the stockholders an
auditing committee of three mem
bers shall be chosen, whose duty |
shall be to examine the books and |
accounts of the Secretary and Treas
urer at the close of the year, and
report thereon in writing at the !
next annual meeting.
SEC. 2. The Board of Directors
shall annually, or oftener if neces-
sary, appoint three members of the
Association as a Valuation Com
mittee, who shall examine all prop
srty offered to the Association for
sale or as security for loans, and
submit a report thereon to the
Board of Directors.
Sec. 8. The Board of Directors
nay from time to time appoint such
'ther committees as may be found
necessary. W
Sec. 4. The Board of Directors
hall select a Trustee to whom shall
un all deeds of trust, mortgages or
'ther forms of security given to Sc
ure payment Of loans.
ARTICLE VII.
SECTION /. The Directors shall ,
lold regular meetings on the third
Tuesday of each month which shall
70 open to the stockholders, when
he money in the treasury, if it be :
ne hundred dollars or more, shall ;
&c offered for loan; and the member ,
idding the highest premium shall
q entitled to receive the loan, not
xceeding one hundred dollars
5000 for each certificate of two
hares of stock held by him, the :
remium to be deducted from the 8
pan. The interest shall be twelve 5
12) per cent per annum payable :
lonthly. The first months inter c
it shall be paid before the next :
lonthly meeting, and if such mem :
er shall fail TO give satisfactory Sc
lrity within one month, he shall
'rfeit one months interest, which
lall, until paid, form lien against
is stock on the books of the Asso-
alton.
SEC. 2. Every member before re- :
giving loan shall execute to the 9
rustee of the Association such | =